Real Estate Roundup
New development plan filings from the DOB:
RXR Realty has filed plans for a 21-story mixed-use office tower at 42-11 9th Street in Long Island City. The project will make use of Industrial Business Incentive Area (IBIA) special permits. Plans call for a 396,365-square-foot office building, which will also include 64,180 square feet of manufacturing space, and ground-floor retail.
Sam Chang has filed plans for a 34-story hotel at 150 West 48th Street. The hotel will span 300,216 square feet and include 974 rooms.
Moshe Altmark has filed plans for a 23-story, 135-unit project in Port Morris at 2455 3rd Avenue. The high-rise will span around 95,000 square feet. (TRD)
Rabsky Group and Spencer Equity have secured a $70.5 million loan from Bank Leumi USA to refinance for their Broadway Triangle development at 174 Harrison Avenue in Williamsburg. The new debt replaces a one-year, $65 million loan provided by Centennial Bank in late 2018, and carries an interest rate of 4 percent over LIBOR, 0.5 percentage points lower than the previous loan. (TRD)
Camber Property Group and affordable housing nonprofit Westhab have secured over $46 million in financing from the New York State Homes and Community Renewal + HFA for its planned affordable and supportive housing rental development at 913 East Tremont Avenue in the Bronx. (CO)
Just two years from now, the city will have 65 percent more hotel rooms than it did in 2010 — a mind-boggling jump from 87,000 to 144,000 rooms. The building boom goes on despite recent declining occupancy and revenue. Prominent projects include Sam Chang’s 150 West 48th Street, Extell + Hard Rock International’s 151-159 West 48th Street, Lam Group’s 1225-27 Broadway, Centaur Properties + Midtown Equities 10 South Street, and 233 West 125th Street (partnership consists of Lam Group, Exact Capital, Danforth Development Partners and Goldman Sachs). (NYPost)
Gary Barnett sits down for an interview with TRD.
Adam Rose of Rose Associates set to retire in February. (TRD)